Mon, 20 May 2013
Exploit the power of digital with The Lawyer Acumen
The Lawyer Acumen is a comprehensive online resource giving everyone in the legal market real-time business intelligence on the sector.
22 March 1999
2 February 2012
4 May 1999
19 November 2010
30 January 1996
8 December 1997
SLAUGHTER and May has been ordered to pay more than £200,000 in damages after the High Court found it acted negligently in a property deal.The City firm, which is considering an appeal, must pay £204,541 plus interest to Summit Financial Group (formerly Aurit Services) to indemnify the company for possible further losses.The case centred on an agreement to calculate the commission payable by ATC Property to Aurit for introducing two properties.Aurit was represented by Slaughters and ATC by Ashurst Morris Crisp when the deal was drawn up.Aurit claimed that though the first draft of the agreement produced by Slaughters correctly reflected the deal, a later version failed to incorporate the main element of commission calculation.It said that, as a result, the agreement was deprived of its primary commercial purpose and the commission agreement entitled Aurit to a much lower financial return than had originally been agreed.Mr Justice Rimer rejected claims by Slaughters, which denied negligence, that Aurit understood and agreed to the terms of the agreement as executed.The firm also argued that Aurit was guilty of contributory negligence, that it should have mitigated its loss by suing ATC for rectification of the agreement and that the claim was statute barred.Slaughters commercial partner Anthony Newhouse says: "We don't really comment on affairs like this. We were given leave to appeal and we are currently considering whether to do so."
View All Related Briefings
MBL Seminars Limited
View all CPD/Events
Subscribe to The Lawyer today and get all the latest news stories, both domestic and global, and analysis of the legal sector.
A subscription includes:
The latest legal news, opinion, analysis, jobs and events. Wherever you are, whenever you need it.
Let us help you with an integrated approach to mobile and online advertising.
Site powered by Webvision